One of the constant criticisms raised about ArcGIS10 is dissatisfaction with the new editing environment. Via the Facebook site F*ck You ArcMap! I found this pearl of wisdom:
In this blog post pbond explains how to revert to the familiar 9.x system for editing. You might also be interested in an earlier post on a similar topic:
Good work by the people at Idaho Department of Fish and Game!
[I should point out that IDFG nor their staff, do not, to my knowledge, endorse the said Facebook page]